The trial of three former executives from defunct New York megafirm Dewey & LeBoeuf, LLP will begin later this month in a Manhattan courtroom, with jury selection already underway.
The firm’s ex-chairman Steven Davis, executive director Stephen DeCarmine and CFO Joel Sanders face criminal charges of criminal fraud. The Manhattan District Attorney’s office claims that the men masterminded a scheme to hide Dewey’s true finances from lenders and creditors in the run-up to Dewey’s spectacular implosion in May of 2012.
Opening arguments are scheduled to begin May 26, 2015, and the trial is expected to last four to six months.
Dewey’s collapse was the largest law firm failure in U.S. history. The three former executives face prison sentences between eight and twenty-five years in length. They are expected to argue in defense that their actions did not amount to fraud, and that they were doing all they could to save the century-old firm.